Owen McGee
speaker
1,739 appearances
11 recordings
2 series
first heard May 2026
last heard 4d ago
Owen McGee’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 11 in all, peaking in Sep 2026 with 3.
Appearances
It used to be a thing that people parents would have to give up some of their savings.
Now they have to give up their home and that's the society we now live in.
Like they literally have to say, I'll move out here and you move in, enjoy the home I built over the last thirty, forty, fifty years Yeah.
But unfortunately that's where we are, David, isn't it?
You need to tread very carefully.
Like you really need the particularly on the tax side here.
So if you think about it, David, imagine I'm gonna make you my daddy for a minute, David.
Right.
So imagine you're my father, you're my father, and your house is worth, let's just say, eight hundred thousand euros, okay?
And you say, you know what, I need four hundred thousand euros in order to buy my next home.
So if you're moving in here, I need four hundred to roll over into my smaller down.
size homes.
The difference between the eight hundred and the four hundred, which is four hundred thousand, is seen as a gift from you to me.
Now that's kind of okay when the numbers round you like four hundred thousand, because in our lifetime I can get four hundred thousand off you because you're my dad, but I can get four hundred thousand in your lifetime off your parents.
But if it goes over that, that gift will be taxable in my hands because if I let's say I the gift that the reduction in the market value was five hundred thousand euros, well then I'll be seen as getting five hundred thousand gift, four hundred thousand of my allowances used up, and I'll pay thirty three percent tax on the hundred thousand euros, even though I didn't physically get the cash.
On the opposite side, let's say it's not your home.
Let's say you, David, have a f have uh an investment property somewhere and you're renting out, you say, you know what I'll do?
I'll sell that to you and you move in there, son, and what I'll do there is it's worth four hundred thousand euros and I'll I'll sell it to you for two hundred thousand euros.
It doesn't affect me because I'm that's less than the four hundred thousand I'm allowed to have, but it does affect you because revenue will see you as disposing
of a property worth four hundred thousand euros even though you only got two hundred into your back pockets.
Showing 401–420 of 1,739 · page 21 of 87
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